Crypto Analysts Believe Bitcoin Could Hit $30k In 2023
- There was a period of relative calm for BTC in the final week of October.
- PlanB forecasts that bitcoin will experience a significant price increase in November.
- Following a gain of 0.47%, the price of Bitcoin has reached $20,582.40.
Last week in October, the global crypto market climbed back above the $1 trillion mark, and now bulls are working hard to keep that upward momentum going. During this period, Bitcoin (BTC) was also able to find stability, and many analysts predict that the cryptocurrency market leader has even brighter days ahead.
This faithful group includes “Moustache,” an anonymous crypto analyst. He uses the Network Value of Transactions to make these forecasts, and he thinks that even though BTC has already increased by 450% over the past three years, there is still room for a massive green candle in BTC’s future. Moustache has also predicted that BTC could reach $30,000 by 2023.
PlanB, a cryptocurrency analyst, agrees that November will bring a significant increase in BTC’s value. Moreover, a CryptoQuant analyst has shown that, despite the fact that the supply of Bitcoin for the next one to three months is falling slightly, BTC whales are still holding.
Bitcoin (BTC) is the undisputed king of cryptocurrencies, and many crypto enthusiasts and BTC holders think its price could skyrocket if it can hold above $20,000 and eventually reclaim $30,000.
US Dollar to Tether, 1 Bitcoin (Information obtained from CoinMarketCap)
The price of one bitcoin (BTC) as of this writing is $20,582.40, a gain of 0.47 percent (or $89.20) in the last 24 hours, as reported by market data provider CoinMarketCap. Over the past week, BTC has gained over 6%.
Experts in the cryptocurrency industry predict that by 2023, the price of bitcoin could reach $30,000. This article originally appeared on Coin Edition.
Disclaimer: This opinion is not meant to be taken as financial guidance and is presented merely for educational purposes. Crypted Crypto cannot guarantee that it accurately represents the views of the publication. You should always do your own research before making any financial decisions, as every investment and every trade carries some degree of risk. If you cannot afford to lose the money you invest, then you should not invest it.
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